Flex Space with Drive-In Shop
For Sale
$299,900
412 3rd Street South, Nampa, ID 83651
Front office and rear work area support customer-facing and operational functions.
Property Size1,990 SF
Price / SF$150.70
Days on Market9
Property Features for 412 3rd Street South
General Information
Standard status
Active
Size
1,990 SF
Listing Agency:
LPT Realty
(208) 810-8182
Listed By:
Tim Smith · License #sp44114
Source:
Joeplatz
Added: Aug 23
Changed: Aug 30
Last Checked: Aug 30 at 8:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LPT Realty
Investment Insights
Based on property information with market context.
Located at 412 3rd Street South in downtown Nampa, this 1,990-square-foot flex property combines a customer-oriented office component with a separate work area. The front portion features large storefront glazing, while the rear provides shop space with a drive-in door for vehicles or equipment.
The building is positioned across from Nampa City Hall and includes a freestanding billboard at the front of the property. Its two-part configuration accommodates office activity and back-of-house work within the same commercial building, offering a practical arrangement for an owner-user or operating business.
The building is positioned across from Nampa City Hall and includes a freestanding billboard at the front of the property. Its two-part configuration accommodates office activity and back-of-house work within the same commercial building, offering a practical arrangement for an owner-user or operating business.
Key Highlights
- 1,990 SF flex property with separate office and shop areas
- Drive‑in shop door accommodates vehicles or equipment
- Large storefront windows at the front of the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$514,020
$514.0K
Cap Rate 7%
$367,157
$367.2K
Cap Rate 9%
$285,567
$285.6K
Market Conditions
NOI Build-Up for 1,990 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.8K $21.00/SF
− Vacancy
−$7.5K −$3.78/SF
EGI
$34.3K $17.22/SF
− OpEx
−$8.6K −$4.31/SF
NOI
$25.7K $12.92/SF
Area
Nampa, ID
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$514,020
Cap Rate 7%
$367,157
Cap Rate 9%
$285,567
Alternative Uses
Best Use
Office B
$367.2K
$321.3K – $428.4K
NOI $25,701 @ 7.0% cap · market cap 8.57%
Second Best
Flex RnD
$284.1K
$248.6K – $331.4K
NOI $19,884 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$503.4K
$440.5K – $587.3K
NOI $35,237 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 83651, ID
34,509
Population
14,031
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
86%
High-School Grad
15.9 sq mi
ZIP Area
2,170
Density / Sq Mi
$66,895
Median Household Income
$34,770
Median Earnings
$1,334
Median Rent
$312,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- H&M BBQ — 215 14th Ave S, Nampa, ID 83651
- Horsewood Catering — 422 Caldwell Blvd, Nampa, ID 83651
Frequently Asked Questions
What type of property is this?
Flex space - Front office and rear work area support customer-facing and operational functions.
Where is this flex space located?
The property is located at 412 3rd Street South Nampa, ID.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,990 SF flex property with separate office and shop areas; Drive‑in shop door accommodates vehicles or equipment; Large storefront windows at the front of the building
